RATE Group | Why Bitcoin Dropped by Over 10 Percent, Deleting $40 Billion From Crypto Market, Experts…
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Why Bitcoin Dropped by Over 10 Percent, Deleting $40 Billion From Crypto Market, Experts…

07 Sep Why Bitcoin Dropped by Over 10 Percent, Deleting $40 Billion From Crypto Market, Experts…

Posted at 14:28h in Bitcoin News by

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Over the past two days, the valuation of the cryptocurrency market has plunged to $201 billion as Bitcoin lost 13 percent, moving closer to its yearly low at $192 billion.

Since Sept. 6 when the price of Bitcoin dropped by more than 10 percent within a one-hour period, the cryptocurrency market has been on a continuous decline. Tokens bled out more intensely than they previously did in April and June, losing out 10 to 30 percent against Bitcoin.

Source: coin360.io

Cointelegraph interviewed ThinkMarkets chief market analyst and former Bank of America trader Naeem Aslam, eToro senior market analyst Mati Greenspan, and well recognized cryptocurrency technical analyst Uzi, delving into the recent drop of Bitcoin and the rest of the cryptocurrency market.

$40 billion drop: One of the biggest daily decline in recent years

On Sept. 6, the cryptocurrency market lost nearly $40 billion from its valuation in less than 24 hours, demonstrating one of the steepest declines in the past three years.

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